E Fund Management Hong Kong Co. Ltd. Reduces Holdings in Expand Energy Corporation $EXE

E Fund Management Hong Kong Co. Ltd. decreased its position in shares of Expand Energy Corporation (NASDAQ:EXE) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 837 shares of the company’s stock after selling 152 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Expand Energy were worth $98,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EXE. UMB Bank n.a. purchased a new position in shares of Expand Energy during the first quarter worth about $139,000. Park Avenue Securities LLC purchased a new position in shares of Expand Energy during the first quarter worth about $280,000. First Citizens Bank & Trust Co. purchased a new position in shares of Expand Energy during the first quarter worth about $340,000. Farther Finance Advisors LLC purchased a new position in shares of Expand Energy during the first quarter worth about $439,000. Finally, Yousif Capital Management LLC purchased a new position in shares of Expand Energy during the first quarter worth about $3,092,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Price Performance

EXE stock opened at $108.68 on Thursday. The firm has a 50 day moving average of $99.36 and a 200-day moving average of $106.22. Expand Energy Corporation has a 12-month low of $82.69 and a 12-month high of $123.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The company has a market cap of $25.88 billion, a price-to-earnings ratio of 278.67 and a beta of 0.47.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, equities analysts expect that Expand Energy Corporation will post 1.33 EPS for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 14th. Expand Energy’s dividend payout ratio (DPR) is presently 589.74%.

Insider Buying and Selling

In related news, CEO Domenic J. Dell’osso, Jr. purchased 2,500 shares of Expand Energy stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of $95.86 per share, for a total transaction of $239,650.00. Following the transaction, the chief executive officer owned 166,715 shares in the company, valued at approximately $15,981,299.90. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joshua J. Viets purchased 2,000 shares of Expand Energy stock in a transaction dated Monday, August 18th. The shares were bought at an average price of $92.16 per share, with a total value of $184,320.00. Following the completion of the transaction, the chief operating officer owned 61,676 shares in the company, valued at approximately $5,684,060.16. This trade represents a 3.35% increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXE. Scotiabank reaffirmed an “outperform” rating on shares of Expand Energy in a report on Wednesday, August 13th. Raymond James Financial reiterated a “strong-buy” rating and set a $150.00 target price (up previously from $146.00) on shares of Expand Energy in a research note on Thursday, September 11th. Morgan Stanley increased their target price on shares of Expand Energy from $134.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. UBS Group decreased their target price on shares of Expand Energy from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Finally, Piper Sandler decreased their target price on shares of Expand Energy from $140.00 to $136.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.42.

Expand Energy Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.